goldfinger
- 31 Aug 2004 15:37
Cape plc is an industrial services business that as divisions in predominantly, building, scaffolding and insulation. It carries its busines out both here and abroad and is slowly but surely regenerating itself into a market leader and throwing off its old boring industrial image.
In a recent trading update on the 22/6/2004 it had several positive points that it announced at its AGM.
The chairman Martin May said,
'I am pleased to report that at the end of the first five months of trading, the
Company is ahead of budget and like-for-like sales show an encouraging increase
year on year.
Sales remain strong across most of the Company's activities with a healthy order
book to the year end in line with normal business expectations. Results from
the Company's offshore business have been particularly strong. Outside the UK,
CIS has experienced a number of accelerated contract start dates during the
first five months of trading and therefore turnover growth is expected to
balance itself during the second half of the year.
CIS continues to enjoy a strong position in most of the markets in which it
operates and since the beginning of the year, has been awarded a number of new
contracts both in the UK and internationally. In the UK, CIS is providing a
range of services on the 'Golden Eye' project offshore at St Fergus and
Mossmorran, and was awarded two three year onshore maintenance contracts for
industrial cleaning services and the provision of scaffolding and access
equipment at 'Didcot A Power Station'.
In the Middle East, CIS has been awarded a $6 million contract with Consolidated
Contractors Company for insulation work at Muscat, strengthening the Company's
leading position as a provider of insulation services in Oman. In Qatar, a
market where CIS has identified a number of new opportunities, CIS was awarded a
three year maintenance contract at Dukhan for Qatar Petroleum. Whilst still
taking advantage of further major project work, CIS continues to grow its
presence in higher-margin maintenance work on scaffolding and insulation
contracts, which now contributes about 60% of profitability in this region. ENDS.
Very encouraging news indeed.
Then if we look back at the last results we find that the company had an excelent trading period and also settled the ongoing litigation it had with the South African and UK shipyards something which in the past held this ones share price back.
FINANCIAL HIGHLIGHTS
Cape Industrial Services turnover(1) up 19.1% to 228.3m (2002: 191.7m)
Cape Industrial Services operating profit(1) up 8.7% to 10m (2002: 9.2m)
Group turnover(1) of 231.9m (2002: 224.8m)
Group operating profit from continuing operations(1) was 3.5m
(2002: 15.6m)
Group operating profit from continuing operations(1)(2) up 32.7% to
7.3m (2002: 5.5m)
Year end net debt reduced to 5.4m (2002: 19.3m)
(1) including its share of continuing joint ventures
(2) before compensation for industrial disease costs of 3.8m (2002: credit
of 10.1m)
OPERATIONAL HIGHLIGHTS
Settlement of South African and UK shipyards asbestos litigation
Group restructuring fundamentally complete
New project wins in UK and Middle East
Key objectives set following strategic review
KEY FUNDIES
.Market cap circa of 55 million
.P/E historic of circa 7.3
.Forward P/E of 6.8
.Gearing approx net cash -5 to -6million
I beleive results to be out late september, buying in now could be very worthwhile.
Please DYOR.
cheers GF.
brain2brain
- 05 Mar 2005 18:19
- 44 of 346
I can't believe I haven't spotted these before now. What a graph!! I have been in Tops Tiles for some time and got good steady growth from them. At present they are treading water. I think that these will be an excellent substitute. Average of 10% per month will do me fine.
Cheers
B2B
WOODIE
- 05 Mar 2005 19:20
- 45 of 346
brian see my post no 42 still one way bet results out in a couple of weeks uptrend to continue.cheers woodie
brain2brain
- 05 Mar 2005 19:30
- 46 of 346
Many thanks woodie. Will do some research over the next 24 hours but this does look good. Any further thoughts most welcome.
B2B
brain2brain
- 10 May 2005 18:41
- 47 of 346
Anyone any idea why these have dropped so much?
B2B
Fred1new
- 10 May 2005 22:02
- 48 of 346
b2b I sold this at 160 havig bought at 161p. Noticed it had dropped out of its channel. Also just looked at the graph and noticed a gap formed with slight rise in volume on the 5/5/2005 also the bars look miserable for last few days. I think that more will be dumped tomorrow with price dropping. If I held I think I would dump but I am often wrong and it is easier to make decisions when youu are not holding.
Fred1new
- 11 May 2005 11:03
- 49 of 346
Had a look at this share again this am. Interesting Market Maker to MM small exchange and rest of deals seem sells, but price up on extremely small volumes.
I wonder what is going on!
hlyeo98
- 11 Nov 2006 13:18
- 50 of 346
Cape PLC
07 November 2006
Cape PLC
('Cape' or the 'Company')
Contract win
Cape PLC (AIM:CIU) the international provider of essential support services to
the energy sector, is pleased to announce a significant new contract award on
the South Hook LNG terminal in Milford Haven.
The contract to provide the common user access service for the construction of
the main process unit on phase 1 of the South Hook LNG Terminal, has now
commenced and is due to be completed by the winter of 2007/8. It complements
other work already won on the site by Cape, including the installation of the
cryogenically insulated bases of the five giant LNG storage tanks.
Situated in a natural deepwater harbour easily accessed by large LNG tankers,
the South Hook terminal will have the capacity to meet some 20% of the UK's
current gas consumption. The facility will be owned and operated by South Hook
LNG Terminal Company Ltd which is a joint venture between subsidiaries of Qatar
Petroleum (70%) and Exxon Mobil Corporation (30%). The contract has been placed
with Cape through the main Engineering Procurement and Construction contractor
for the South Hook project, CB&I John Brown Limited.
Martin May Cape's Chief Executive, said, 'We are delighted to have been awarded
another contract on this prestigious project and to have the opportunity to
build on the excellent relationship we already have with Qatar Petroleum and
Exxon Mobil in the Middle East.'
ENDS
For further information, please contact:
Cape PLC
Martin May, Chief Executive +44 (0)1924 876 276
Bell Pottinger Corporate & Financial
Nick Lambert +44 (0)20 7861 3232 /
+44 (0)7811 358 764
Notes to editors
Cape PLC is the parent company of a number of service providing organizations
operating primarily in the oil and gas, petrochemical and power generation
industries.
In the year to 31 December 2005, Cape reported turnover of c. 261.8 million and
it currently employs c. 7,700 people in 23 countries worldwide.
Cape specialises in the provision of scaffolding, insulation, fire protection,
specialist cleaning and other essential services to major industrial clients in
the energy sector. Cape's ability to provide specialist cleaning services was
enhanced by the acquisition of DBI Group Limited in October 2006.
In the UK, Cape operates as Cape Hire, Cape Security, DBI Onshore Services and
DBI Offshore Services. Cape also operates in Bahrain and Saudi Arabia under the
name RB Hilton.
hlyeo98
- 04 Jan 2008 12:29
- 51 of 346
Cape PLC
04 January 2008
Cape PLC
('Cape', the 'Group' or the 'Company')
Pre-Close Trading Update and Appointment of Nominated Adviser
Cape (AIM: CIU), the international provider of essential support services to the energy and natural resources sectors, is pleased to announce its pre-close trading update ahead of the preliminary results for the year ended 31 December 2007, due to be released on 19 March 2008.
Following a record level of activity in the first half of 2007, trading across all of the Group's operations has continued to be as strong with progress made in all key market sectors. Sales in each of the regional business units have grown significantly year on year with each performing well ahead of expectations. All three of Cape's acquisitions in Australia are expected to make a positive contribution to the 2007 results.
On 26 November 2007, Cape announced that its offer for PCH had been declared unconditional. The offer closed on 20 December 2007. Cape has issued compulsory acquisition notices to holders of all outstanding PCH shares.
PCH is the key platform for the strategic step Cape has taken in 2007 to establish a market leading position in Australasia, alongside the acquisitions of TCC and Concept Hire. Integration planning is progressing well and early indications for the combined businesses in 2008 are very positive.
Cape's management team is now firmly focussed on cash generation, integrating the businesses acquired in 2007, delivering the associated synergies and ensuring that all newly acquired services are pulled through the Group. Cape now looks forward to a sustained period of strong organic growth.
Overall, Cape expects its results for the year ended 31 December 2007 to exceed
current market expectations. Expected levels of utilisation for the first
quarter of 2008 are high and the prospects for both the international energy and
natural resources sectors in which Cape operates remain very encouraging.
In addition, the Company has appointed Hawkpoint Partners Limited as its
Nominated Adviser with immediate effect. Collins Stewart Europe Limited remains
the Company's broker.
hlyeo98
- 04 Jan 2008 19:35
- 52 of 346
Cape says directors lifts stake in Cape PLC.
Energy support services provider Cape PLC said chief executive Martin May has purchased 5,000 shares at 245.8 pence each, lifting his stake in the company to 130,000 shares, or about 0.11 pct of the company's issued share capital and Sean O'Connor, a non-executive Director of Cape, has today purchased 12,250 Ordinary Shares of 25 pence each ('Ordinary Shares') at a price of 244.75p.
Toya
- 05 Jan 2008 18:41
- 53 of 346
According to The Times today:
"Numis upgraded from 'add' to 'buy' with a 366p target price."
hlyeo98
- 16 Aug 2008 11:24
- 54 of 346
Time Traveller
- 18 Aug 2008 20:19
- 55 of 346
hlyeo98
- 07 Oct 2008 14:17
- 56 of 346
195p...why is CAPE falling?
dealerdear
- 16 Oct 2008 12:02
- 57 of 346
Good company but came out with a statement yesterday about net debt which of course today is everything.
Net debt was down but the market has taken very badly to it. Currently down 54%.
justyi
- 16 Oct 2008 12:46
- 58 of 346
Also Panmure Gordon has reiterated a SELL on CIU. Get out of this. 88p as I write.
hlyeo98
- 17 Oct 2008 09:10
- 59 of 346
Wow...good thing I sold out of Cape at 210p suffering a small loss.
justyi
- 17 Oct 2008 11:44
- 60 of 346
The net debt looks very worrying. It does not reassure investors in spite of directors comment. 80p at the moment.
dealerdear
- 17 Oct 2008 11:50
- 61 of 346
70p not 80p!
justyi
- 17 Oct 2008 11:56
- 62 of 346
The net debt looks very worrying. It does not reassure investors in spite of directors comment. 70p at the moment.
Cape has a ton of brick tied to it now. Thank you for the update. 70p
Big Al
- 19 Mar 2009 10:13
- 63 of 346
;-0